Stripe is now a $5 billion company

The digital payments company has secured financial investment from Visa, Amex and other financial giants, which raises its valuation to $5 billion.

The investment means Stripe has jumped in value from $3.5 billion to $5 billion in just seven months.

The company did not confirm how much money was raised but rumours suggest it is around the $100m mark. However, Stripe did disclose that it would be used to expand internationally and for recruitment.

As well as Visa and Amex, KPCB and Sequoia also participated.

“I think the valuation jumped because of the surprising momentum of the business. Right now, we are ahead of our 2015 projections of revenue, and transaction volume from merchants,” said Patrick Collison, CEO of Stripe.

But Visa didn’t just invest in the five-year-old company, it has also agreed a deal with Stripe that will see the two companies work together on processing payments in countries outside the US.

The CEO also said that Stripe will be working with Visa on improving transactions security and expediting the online shopping experience.

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